Walkers advises on the laws of Bermuda*, the British Virgin Islands (BVI), the Cayman Islands, Guernsey, Ireland and Jersey (Channel Islands). We are experienced in all types of international and cross-border transactions covering a broad range of sectors with a particular focus on both contentious and non-contentious corporate and finance law, investment funds, private equity, structured products, capital markets and trusts.

Walkers works in exclusive association with Kevin Taylor, trading as 'Walkers Bermuda', a full service commercial law firm providing advice on all aspects of Bermuda law.

Walkers Professional Services provides registered office, corporate, and fiduciary services from Bermuda, the Cayman Islands, Dubai, Hong Kong and Ireland. We also provide compliance services from the Cayman Islands through Walkers Compliance, a one-stop-shop which helps clients address evolving Anti-Money Laundering Regulations, including outsourcing and supporting their compliance functions. Working together with Walkers law firm, Walkers Professional Services delivers a seamless integration of legal, corporate, fiduciary and compliance services.

Walkers delivers clear, concise and practical advice based on an in-depth knowledge of the legal, regulatory and commercial environment in Bermuda*, the British Virgin Islands, the Cayman Islands, Guernsey, Ireland and Jersey.

Walkers works in exclusive association with Kevin Taylor, trading as 'Walkers Bermuda', a full service commercial law firm providing advice on all aspects of Bermuda law.

A recent judgment of the Grand Court of the Cayman Islands (Grand Court) has raised a number of important issues for the processing of redemptions in master-feeder structures. In Ardon Maroon, the Grand Court held that “industry practice” is not a relevant consideration in determining whether a back-to-back redemption by a feeder fund has been validly effected - rather, the Grand Court found that master and feeder funds must strictly follow the redemption mechanics set out in their constitutional and operational documents in order to ensure that back-to-back (or automatic) redemptions are ultimately effective as a matter of law.

This decision serves as a timely judicial reminder that the practice which is ultimately adopted by managers, administrators and transfer agents must accurately reflect the actual redemption procedure set out in the constitutional and operational documents of master-feeder structures (or vice versa).